Compensation for under utilisation of production capacity not eligible for deduction u/s. 80IC

HIGH COURT OF DELHI INCOME TAX APPEAL NO. 656/2011 Date of Decision: 29th March, 2012 PINE PACKAGING PRIVATE LIMITED VERSUS COMMISSIONER OF INCOME TAX ORDER SANJIV KHANNA, J.: Pine Packaging Private Limited has filed the present appeal impugning the order dated 14th January, 2011 passed by the Income Tax Appellate Tribunal (tribunal, for short) in ITA No. 4084/Del/2010. The appeal pertains to assessment year 2007- 08. In the return of income, the assessee had shown turnover of Rs.9,81,75,513/- and net profit of Rs.86,95,402/-. After adjustment of brought forward unabsorbed dep...